It hosts various sporting events, such as handball, basketball, volleyball and athletics, as well as for other events. Aside from sporting events, it is to day the largest concert venue in Iceland, with capacity of 11,000 people in one hall. Aside from sports and music events, it serves as a general purpose hall for all manner of events.

On November 6, 2010, the "National Assembly", the first step of a constitutional reform process, was held here. It gathered 1000 citizens, randomly picked in the national register. It produced a document listing the main principles of the island nation.